Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih underlined the Kingdom’s plan to raise its production by about 10,000 megawatts by 2023, or about 10 percent of the country’s total energy production.
He pointed out that there were great opportunities for cooperation between Japan and Saudi Arabia in this field.
“The techniques of storing carbon and hydrogen are witnessing a tangible development,” he said, stressing the importance of boosting bilateral cooperation on peaceful use of nuclear energy in the Kingdom.
He further said in his speech on the Saudi-Japanese Business Forum in Riyadh that the history of the two countries is full of success and achievements.
He explained that the Kingdom’s reliability in the production of energy had enabled the country to meet 35 percent to 40 percent of Japan’s energy requirements over the years.
Falih talked about 13 Japanese companies operating in 11 projects to invest in logistics service for the transport of goods through domestic and international supply chains, benefiting from the strategic location of the Kingdom.
“Our partnership with Japan’s refining, marketing and chemicals sectors through Shua Shell Refinery has been continuing for a decade and a half, and Okinawa crude oil storage has helped boost Japan’s oil reserves,” he said.
The Saudi-Japanese relations are witnessing developments and convergences in many files, especially the economic one, following the visit of the Custodian of the Two Holy Mosques to Japan in 2017.
The Saudi King’s visit paved the way for the emergence of the Saudi-Japan Vision 2030, aiming to achieve sustainable growth through establishing broad and reliable industrial environment, enhancing the competitiveness of the economic sectors by maximizing the use of technology and innovation and renewing social and cultural experiences by establishing strong foundations for bilateral cooperation.